Apr Curr Acct Surplus Y750bn
Japan’s current account balance produced a surplus for the third straight month in April, the Ministry of Finance said Monday, as the weaker yen helped boost the value of income from overseas investments, more than offsetting for the nation’s massive trade deficits.
The surplus in the current account, the broadest measure of Japan’s trade with the rest of the world, stood at Y750.0 billion in April before seasonal adjustment, the data showed. That’s wider than expected by economists surveyed by Dow Jones Newswires and the Nikkei, who estimated a surplus of Y310 billion.
The figure compares with a year-ago surplus of Y373.5 billion, and the previous month’s surplus of Y1.251 trillion.
Jan-Mar Revised Annualized GDP +4.1%; Prelim +3.5%
Japan’s gross domestic product expanded at a faster pace than initially estimated during the January-March quarter, offering a fresh indication that Prime Minister Shinzo Abe’s economic policies have started to take effect.
Revised GDP figures show the economy grew at a price-adjusted 4.1% in annualized terms during the first three months of the year, the Cabinet Office said Monday. That compares with an initial reading of 3.5% growth released last month.
The biggest contributor to the upward revision was capital spending, which fell 0.3%, the data showed. The initial estimate said it declined by 0.7%.
- GDP Deflator y/y 1Q Final, -1.1% vs. expected -1.2%, prior -1.2%
- Nominal GDP q/q 1Q Final, 0.6% vs expected 0.4%, prior 0.4%
- GDP Annualized 1Q Final, 4.1% expected 3.5%, prior 3.5%
- Gross Domestic Product q/q 1Q Final, 1.0% vs. expected 0.9%, prior 0.9%
- Current Account Total April, Y750.0B, vs. expected ¥350.0B, prior 1251.28
- Adjusted Current Account Total April, Y852.7B, vs. expected ¥380.0B, prior ¥342.4B
- Trade Balance BOP Basis April, Y -818.8B, vs. expected -¥729.9B, prior -¥219.9B
- Bank Lending Ex-Trusts y/y for May, 2.1% vs. expected 2.2%, prior 2.1%
- Bank Lending incl Trusts y/y May, 1.8% vs expected 1.8%, prior 1.7%